Unreconstructed monetarists ought therefore to agree with mr magnus 's main point : under current circumstances , better to print money and be damned .
因此,顽固的货币主义者应同意马格纳斯的主要论点:在目前情况下,印钞票并遭受诅咒是更佳做法。
Thus , argues mr magnus , today " there is a quite serious risk that the de-leveraging downturn could run amok : credit contraction causes economic contraction , which causes further write-downs and capital destruction , which leads to more credit contraction and so on " .
Mr magnus was surely correct to say this points to the need for further monetary easing but wrong , I think , to say that " unreconstructed monetarists will not be persuaded " .